Black Spade Capital Limited
Overview
Black Spade Capital Limited is a Hong Kong-based private investment firm specializing in mergers and acquisitions. The firm manages a diversified global investment portfolio spanning public equities, fixed income, real estate, and pre-IPO opportunities. It has led significant transactions, including a $23 billion merger with VinFast Auto Ltd. through its SPAC, Black Spade Acquisition Co., in August 2023. Additionally, Black Spade Acquisition II Co, another SPAC sponsored by the firm, completed a business combination with The Generation Essentials Group in June 2025. The firm's investment strategy emphasizes innovation, diversification, and sustainable long-term growth, with a focus on sectors such as medical technology, entertainment, green energy, and culture. Black Spade Capital actively promotes the development of family offices in Hong Kong by supporting favorable government policies and participating in global events such as the BEYOND Wealth Summit. As of 2025, Lawrence Ho’s personal net worth stands at approximately US $1 billion, a significant decline from prior years. This estimate comes from Forbes’ assessment of the Hong Kong 50 Richest list, where Ho dropped off the ranking in February 2024 after his wealth fell from about $1.4 billion to roughly $1.0 billion over the preceding year.
Investment Focus
- Focus on emerging and developed markets
- Interest in sectors such as medical technology, entertainment, green energy, and culture
- Preference for pre-IPO and distressed investment opportunities
Portfolio Companies
Reach Black Spade Capital Limited directly
Verified work email, phone and LinkedIn for the full team — one spreadsheet, one payment, yours to keep.
Unlock full contacts →Frequently asked questions about Black Spade Capital Limited
What sectors does Black Spade Capital Limited invest in?
Black Spade Capital Limited invests in Technology, Real Estate, Green Energy, Medical Technology, Energy Infrastructure & Renewables and Software & Gaming, and is based in Hong Kong. Black Spade Capital Limited is listed as a private investment firm in the ConnectSafely investor database.
What stage does Black Spade Capital Limited invest at?
Black Spade Capital Limited backs companies at Pre-IPO, Buyout, Turnaround and Distressed.
Which regions does Black Spade Capital Limited invest in?
Black Spade Capital Limited invests across United States, Hong Kong, Middle East, Vietnam and Thailand.
What companies has Black Spade Capital Limited invested in?
Black Spade Capital Limited's portfolio includes VinFast Auto Ltd., The Generation Essentials Group and IFCX.
Last updated · Source: ConnectSafely investor database
